Aditya Birla Fashion and Retail proposes to raise Rs 500 crore through NCDs

Aditya Birla Fashion and Retail Ltd (ABFRL) plans to raise Rs 500 crore through issuance of bonds on private placement basis.

"The company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, issued at par aggregating to Rs 500 crore on private placement basis, on or after January 13, 2023," the Aditya Birla group firm said in a regulatory filing on Friday.

This is within the limits approved by the board and shareholders of the company, it added.

ABFRL, part of the USD 60 billion global conglomerate, Aditya Birla Group is India's largest multi-brand retailer of International global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.

The company portfolio also includes fashion brands -- Louis Philippe, Van Heusen, Allen Solly and Peter England -- and fashion retailer Pantaloons.